WELL DUH!!!!!!!!!!!!!! How else do they expect to pay for a 700+ billion dollar bailout for bum ass companies who didn't deserve it?

All these f'ing idiots who voted for Obama, I hope they lose their f'ing houses and can't send their kids to college. This is just what they asked for when they decided to vote for this prick! I mean seriously, how did they NOT see this coming?

WASHINGTON - President Barack Obama's treasury secretary on Sunday said he cannot rule out higher taxes to help tame an exploding budget deficit and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.

As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits. With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.

Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.

"There is a lot that can happen over time," Summer said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what."

'We have to bring those deficits down'
During his presidential campaign, Obama repeatedly vowed "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care — promised without increasing the federal deficit — must be paid for.

"If we want an economy that's going to grow in the future, people have to understand we have to bring those deficits down. And it's going to be difficult, hard for us to do. And the path to that is through health care reform," Geithner said. "We're not at the point yet where we're going to make a judgment about what it's going to take."

Selling that proposal, however, has proved tricky

"Most private forecasters — and let's use their judgment — suggest you're going to see unemployment start to come down maybe beginning in the second half of next year," Geithner said, adding those same economists predict positive growth during the second half of this year.

At the same time, Geithner and other administration officials are contemplating how to ask Congress to extend — again — unemployment benefits for the millions of Americans who have lost their jobs in recent months. The proposal drew measured support from Sen. Jim DeMint, R-S.C.

"We need to take care of those who are unemployed, but we also need to make sure they get jobs," he said.

'We were teetering for a while'
Those jobs, though, are still elusive. Greenspan said the economy is slowly coming back.

"Collapse, I think, is now off the table. We were teetering for a while," he said.

Greenspan said he doesn't think the Federal Reserve should be considering raising interest rates to ward off inflation, although he added that the Fed will have to rein in credit and raise rates at some point.

Obama's opponent for the presidency, Sen. John McCain, questioned whether the administration's actions will prove beneficial for the country.

"I think it's pretty clear, if you pump trillions of dollars into the economy, you will see some recovery," the Arizona Republican said while giving Obama credit for the improvement. "But the long-term consequences, I think, are going to be, unfortunately, devastating unless we do something about it."

Geithner and Greenspan appeared on ABC's "This Week." Summers appeared on NBC's "Meet the Press" and CBS's "Face the Nation." DeMint was interviewed on "Fox News Sunday." McCain spoke with CNN's "State of the Union."

Play The Man

08-03-2009, 04:32 AM

I figured it would happen, but I didn't figure it would happen this soon

KENTUCKYREDBONE

08-03-2009, 06:15 PM

I would be pleasantly surprised if they didn't raise Taxes!

rearnakedchoke

08-03-2009, 09:17 PM

Only thing certain in this life, death and taxes ...

Crisco

08-03-2009, 09:54 PM

I wonder what the increase will be and on what.

NateR

08-03-2009, 10:03 PM

Yet another Obama campaign promise that proved to be a bold-faced lie. Big surprise. Of course, he'll just blame it all on George W. Bush and the all the brainwashed morons who still support him will actually believe it. :rolleyes:

Vizion

08-03-2009, 11:37 PM

Yet another Obama campaign promise that proved to be a bold-faced lie. Big surprise. Of course, he'll just blame it all on George W. Bush and the all the brainwashed morons who still support him will actually believe it. :rolleyes:
yep...pretty much...

que

08-05-2009, 05:54 PM

All these f'ing idiots who voted for Obama, I hope they lose their f'ing houses and can't send their kids to college.
wow, you sound like such an intelligent, well spoken and mature individual. in fact i think you qualify to be a regular panel guest on nancy grace.

anyways, if taxes do go up in the future, then obama will have lied. he set himself up. but i am more concerned about a president who is doing the right things to get us out of this mess rather than doing the wrong things to get us into this mess like the former presidents did. obama is not perfect but i respect the fact that he is at least acknowledging the problem and taking the right steps to turn this mess around. georges bush ignored the problem and did nothing to help turn the mess around, in his 8 years as president he helped to dig us deeper into it than any president before him. at the end of obama's 4 or 8 year reign i doubt the same will be said about him. in fact i bet at the end of his 4 or 8 year term the state of the economy will be better than what it is now because of the things he did to help us get out of this mess that the former presidents created over the past years and years.

VCURamFan

08-05-2009, 07:17 PM

Just as a side note, I've found it extremely interesting this how whenever something positive happens it's "Obama this" "Obama that", yet when bad news comes out, like this article, it's attributed to "The White House", as though that's somehow not associated with His Emminence.

NateR

08-05-2009, 10:41 PM

wow, you sound like such an intelligent, well spoken and mature individual. in fact i think you qualify to be a regular panel guest on nancy grace.

anyways, if taxes do go up in the future, then obama will have lied. he set himself up. but i am more concerned about a president who is doing the right things to get us out of this mess rather than doing the wrong things to get us into this mess like the former presidents did. obama is not perfect but i respect the fact that he is at least acknowledging the problem and taking the right steps to turn this mess around. georges bush ignored the problem and did nothing to help turn the mess around, in his 8 years as president he helped to dig us deeper into it than any president before him. at the end of obama's 4 or 8 year reign i doubt the same will be said about him. in fact i bet at the end of his 4 or 8 year term the state of the economy will be better than what it is now because of the things he did to help us get out of this mess that the former presidents created over the past years and years.

I think history will show that Obama is doing everything wrong and will only make the situation exponentially worse. Try to put down your Kool-Aid for just a few minutes and you will see that every nation who has ever tried to spend their way out of a recession has failed. It's not going to work. That's already been proven.

NateR

08-05-2009, 10:42 PM

it's attributed to "The White House",

Or Joe Biden. :laugh:

Now we know why Obama picked him for VP, he needs a scapegoat for when the "Blame George W. Bush" tactic stops working.

Crisco

08-06-2009, 04:44 PM

Or Joe Biden. :laugh:

Now we know why Obama picked him for VP, he needs a scapegoat for when the "Blame George W. Bush" tactic stops working.

We could but the only problem is it's Obama.. You can't blame for anything except world peace and better relations with terrorists.

Buzzard

08-06-2009, 11:56 PM

Yet another Obama campaign promise that proved to be a bold-faced lie. Big surprise. Of course, he'll just blame it all on George W. Bush and the all the brainwashed morons who still support him will actually believe it. :rolleyes:

I think the brainwashed morons are the ones who voted for the McCain/Palin ticket. The leaders of the repubs had to be off their meds to give that ticket the a-ok. What were the fools thinking? This opinion brought to you in part by the above opinion. I hope the first one who threw poo can handle it when the wind shifts and it hits them back in the face.

It's funny how Bush thought he could spend his way out of the deficit, but I don't remember reading your rants about it when he was doing it near the end of his term.

NateR

08-07-2009, 02:16 AM

I think the brainwashed morons are the ones who voted for the McCain/Palin ticket. The leaders of the repubs had to be off their meds to give that ticket the a-ok. What were the fools thinking? This opinion brought to you in part by the above opinion. I hope the first one who threw poo can handle it when the wind shifts and it hits them back in the face.

It's funny how Bush thought he could spend his way out of the deficit, but I don't remember reading your rants about it when he was doing it near the end of his term.

Actually, when I first heard that John McCain was the Republican candidate, I thought the Republicans were deliberately trying to throw the election. The only reason I voted for him was because of Palin. I'm hoping she runs in 2012, because I'll definitely vote for her again.

Also, just about everyone was ticked off about the bank bailout, I know I was. Unfortunately, it happened during the heat of the Presidential election, so the public outrage got buried.

IIRC, Obama voted in favor of that bailout as well, so he can't wash his hands of that mess.

Crisco

08-07-2009, 04:09 AM

Actually, when I first heard that John McCain was the Republican candidate, I thought the Republicans were deliberately trying to throw the election. The only reason I voted for him was because of Palin. I'm hoping she runs in 2012, because I'll definitely vote for her again.

Also, just about everyone was ticked off about the bank bailout, I know I was. Unfortunately, it happened during the heat of the Presidential election, so the public outrage got buried.

IIRC, Obama voted in favor of that bailout as well, so he can't wash his hands of that mess.